Co- founder of Flipkart Sachin Bansal has brought up his latest venture Navi. He said that their mission is to simplify financial services for billion of users.
Our mission is to simplify financial services for a billion users and make it accessible for them by creating a bank for a billion users. Basically, the cost of operations is really high for this segment and it passes on to customers. Our focus is the middle-income group. The top 50 million is well served by banks. Despite having the means, the next 100 million, which isn’t the high-income group, don’t get the attention of the banks.
Said Sachin Bansal at Global Fintech Festival 2020
In April Navi has raised Rs. 204 crore from private equity firm Gaja Capital and others.
Navi was founded in 2018 after he moved out of Flipkart . It is based in Bengaluru.
